Fidelity National Financial Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Fidelity National Title Group, Inc. is a leading provider of title insurance, specialty insurance and claims management services. FNT is one of the nation’s largest title insurance companies through its title insurance underwriters. FNT also provides flood insurance, personal lines insurance and home warranty insurance through it specialty insurance business. FNT also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. “
Separately, Monness Crespi & Hardt reduced their price objective on Fidelity National Financial from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.17.
Fidelity National Financial (NYSE:FNF) traded down 1.59% during mid-day trading on Monday, hitting $32.89. The stock had a trading volume of 1,545,572 shares. Fidelity National Financial has a 12 month low of $28.24 and a 12 month high of $38.50. The stock’s 50-day moving average price is $34.86 and its 200-day moving average price is $36.00. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 16.28 and a beta of 0.92.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.05. Fidelity National Financial had a return on equity of 13.04% and a net margin of 6.73%. The business earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Fidelity National Financial will post $2.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.21. Fidelity National Financial’s payout ratio is currently 41.58%.
In other news, Director Cary H. Thompson sold 3,838 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $36.85, for a total transaction of $141,430.30. Following the transaction, the director now owns 44,532 shares of the company’s stock, valued at approximately $1,641,004.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter T. Sadowski sold 15,809 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $37.55, for a total value of $593,627.95. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Lincoln National Corp increased its position in Fidelity National Financial by 0.5% in the third quarter. Lincoln National Corp now owns 6,869 shares of the company’s stock valued at $254,000 after buying an additional 34 shares in the last quarter. Assetmark Inc. increased its position in Fidelity National Financial by 1.5% in the third quarter. Assetmark Inc. now owns 2,748 shares of the company’s stock valued at $101,000 after buying an additional 41 shares in the last quarter. Creative Planning increased its position in Fidelity National Financial by 0.3% in the second quarter. Creative Planning now owns 14,035 shares of the company’s stock valued at $526,000 after buying an additional 47 shares in the last quarter. Stifel Financial Corp increased its position in Fidelity National Financial by 0.6% in the second quarter. Stifel Financial Corp now owns 15,826 shares of the company’s stock valued at $594,000 after buying an additional 101 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Fidelity National Financial by 1.3% in the second quarter. CIBC Asset Management Inc now owns 14,437 shares of the company’s stock valued at $541,000 after buying an additional 184 shares in the last quarter. 86.41% of the stock is currently owned by hedge funds and other institutional investors.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.